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TORONTO, ON / ACCESSWIRE / October 30, 2020 / GreenBank Capital Inc. (CSE:GBC and OTC PINK:GRNBF and FRA:2TL) (“GreenBank or the Company”) is pleased to announce that on October 29, 2020 its 47.5% owned portfolio company GBC Grand Exploration entered into a definitive agreement (“Definitive Agreement”) with Trius Precious Metals Corp. (TSXV: TRU) (“Trius”) to transfer its mineral claims.
As previously announced, GBC Grand signed a letter of intent (“LOI”) with Trius on October 13th, 2020 to transfer the mineral claims comprising its Twilite Gold project in Central Newfoundland. The terms of the Definitive Agreement, as well as the consideration GBC Grand will receive for transferring the claims substantially align to the terms and consideration outlined in the LOI and are fully detailed in GreenBank’s October 14, 2020 press release.
Mark Wettreich, Chairman of GreenBank commented “GreenBank is pleased to have helped facilitate a transaction that directly benefits both GreenBank as well as one of the companies featured in our growing investment portfolio. The Definitive Agreement between GBC Grand Exploration and Trius Precious Metals Corp. acts as further evidence of the value that GreenBank can bring to the companies with whom we partner.”
With the Definitive Agreement now signed, the transaction will be completed as soon as is practicable based on governmental claims transfer processing times. The transfer remains subject to customary conditions and to regulatory approval.
GreenBank is a merchant banking business listed on the Canadian Securities Exchange (trading symbols CSE: GBC and OTCMKTS: GRNBF and FRA: 2TL). GreenBank’s 100% subsidiary GreenBank Financial Inc. is a merchant bank. GreenBank has a multi-sector, multi-stage investment thesis with a global remit. GreenBank’s investment approach is to identify companies with the capacity for rapid growth with a strong management team, that can be scaled and prepared for a public listing over a period of 6-24 months. GreenBank’s portfolio companies comprise equity investments in 11 small cap businesses, namely; 19% of Staminier Limited, a United Kingdom Merchant Banking firm; 59.5% of Kabaddi Games Inc, developers of a mobile application game based on the sport of Kabaddi; 52.5% of Blockchain Evolution Inc, owners of the world’s first identification based blockchain, and developers of Xbook a user permissioned and revenue sharing social media platform; 22.3% of Ubique Minerals Limited, a zinc exploration company in Newfoundland, Canada; 47.5% of GBC Grand Exploration Inc, a gold exploration company in Newfoundland, Canada; 19% of Inside Bay Street Corporation, a financial news communications company; 34.8% of Gander Exploration Inc, a minerals exploration company; 10% of Reliable Stock Transfer Inc, a Canadian small cap transfer agency; 25.2% of Buchans Wileys Exploration Inc, a minerals exploration company; 10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments; and 8.3% of Minfocus Exploration Corp (TSXV: MFX), a mineral exploration company.
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of GreenBank Capital Inc., the raising of additional capital and the future development of the businesses comprising GreenBank’s investment portfolio. The forward-looking information is based on certain key expectations and assumptions made by the company’s management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because GreenBank can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and GreenBank disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: GreenBank Capital Inc.
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